former deputy governor of the Central Bank of Nigeria , has faulted the federal government’s plan to borrow another $1.5 billion from the World Bank.After the federal executive council meeting on Monday,of loan requests from two international lenders.
The loan, according to Edun, comes at a time when the cost of borrowing is rising as developed countries raise interest rates and restrict money, to fight inflation.“There is a real problem when Nigeria is set to borrow another $1.5 billion from WorldBank for budget support, and SUVs worth N160 million each are reportedly to be bought for 360 members of the house of representatives,” Moghalu wrote.
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